Market

Toncoin (TON) Price Prediction for July 7

Sun, 7/07/2024 – 16:50

Cover image via U.Today

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The end of the week is bearish for most coins, according to CoinStats.

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TON chart by CoinStats

TON/USD

The price of Toncoin (TON) has dropped by 3% since yesterday.

Image by TradingView

On the hourly chart, one should pay attention to the local level of $7.45. If buyers fail to seize the initiative by the end of the day, the decline might continue to the vital area of $7 tomorrow.

Image by TradingView

On the daily time frame, the candle is about to close in the red zone, which means bulls have not accumulated enough energy to grow.

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In this case, there is a chance of a further decline to the support level of $6.72 within the next few days.

Image by TradingView

On the bigger chart, neither buyers nor sellers are controlling the situation on the market. Such a statement is also confirmed by low volume. All in all, consolidation around the $7 zone is the more likely scenario.

TON is trading at $7.284 at press time.

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